Wonder if someone can help?
I have a small business. I am an s-corp and only earn a check of $3000.00/month take home pay. I desperately need to take a home equity loan and my bank says I need to earn $27,000 more per year to be are to get this loan. I thought of maybe, claiming $27,000 extra income on my taxes and paying the income taxes on that amount? Does anyone know how much approximate taxes I would have to pay on this extra claimed income. Also, is this legal? I definately would like to go about this legally. Maybe someone would have another idea for me?
Thanks in advance,
Max
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